Investments
IFC proposes $40m investment in India's Aavas Financiers
The International Finance Corporation (IFC) is considering an investment of up to $40 million in debt in Aavas Financiers, a housing finance business that Partners Group and Kedaara Capital bought last year from non-banking financial company (NBFC) Au...
Sequoia, Banyan lead $51m round for China’s Xiaodian
Sequoia Capital China and Banyan Capital have led a RMB350 million ($51 million) Series B round of funding for Xiaodian, a Beijing-based power bank rental company.
Singapore’s Garena rebrands as Sea, raises $550 million
Singapore-headquartered mobile internet and gaming platform Garena has rebranded as Sea and raised $550 million from a group of investors including existing backer Global Digital Prima (GDP) Venture of Indonesia.
TPG, OTPP pursue carve-up of Australia's Fairfax Media
TPG Capital and Ontario Teachers’ Pension Plan (OTTP) have submitted a buyout offer for Fairfax Media that would see them assume control of certain assets – including newspapers The Sydney Morning Herald, The Age and The Australian Financial Review...
Tencent leads $34m round for VC-backed cloud player
Tencent Holding has led a RMB235 million ($34 million) funding round for Transwarp Technology, a Chinese big data technology developer backed by a string of venture capital investors.
China Creation leads $16m for credit evaluation specialist
China Creation Ventures, a VC firm recently launched by Wei Zhou, formerly a managing partner at KPCB China, has led a Series A round of funding worth RMB110 million ($16 million) for credit evaluation business IceKredit.
VCs back South Korean biopharma player ExoCoBio
South Korean biopharmaceutical developer ExoCoBio has raised an $11 million Series A round from investors including SBI Investment, Atinum Investment, ID Ventures, and Dt&Investment.
PAG set for $1.4b privatization of Yingde Gases
Chinese industrial gases supplier Yingde Gases is scheduled to be delisted in September after shareholders voted in favor of a buyout offer from PAG Asia Capital that values the company at approximately HK$11.3 billion ($1.45 billion).
Hony ups stake in Australia’s Santos
Chinese private equity firm Hony Capital has invested A$184.3 million ($136.8 million) to increase its minority stake in Australia-listed oil and gas supplier Santos.
Singapore's NRF to invest $107m in AI
Singapore’s National Research Foundation (NRF) has agreed to invest S$150 million ($107 million) over five years in a new multi-agency initiative aimed at fostering an artificial intelligence (AI) development ecosystem.
India's Ola raises $104m
Indian ride-hailing operator Ola has raised INR6.7 billion ($104 million) from Falcon Edge Capital and RNT Capital Advisors, a VC fund backed by Ratan Tata, chairman emeritus of the company that controls Tata Group.
TPG to invest $50m in India's Dodla Dairy, Proterra to exit
TPG Capital’s growth investment arm has agreed to pay $50 million for a significant minority stake in Indian dairy firm Dodla Dairy. AVCJ understands the deal will provide a full exit for Proterra Investment Partners.
Southeast Asia VC: Common tastes
Venture capital investors increasingly view Southeast Asia as a single market as start-ups focus their attentions on a handful of large cities whose young populations have similar consumption habits
Fund focus: SeedPlus focuses on LP selectivity
Jungle Ventures' SeedPlus took its time accumulating $18 million from a set of LPs that can offer particular value-add to complement an operationally experienced investment team
NetEase raises $23m for pig farm business
China local services platform Meituan-Dianping and Sinovation Ventures have jointly led a RMB160 million ($23m) Series A round for Weiyang, a pig farm business unit owned by Chinese internet firm NetEase.
CRCI, Chinese strategic agree $595m carve-out of Bosch unit
China Renaissance Capital Investment (CRCI) and Chinese industrial group Zhengzhou Coal Mining Machinery (ZMJ) have agreed to buy a starter and generator (SG) manufacturing business from German engineering multinational Robert Bosch for EUR545 ($595 million).
Australia's Airwallex raises $13m Series A round
Tencent Holdings, Sequoia Capital China and Mastercard have all participated in a Series A funding round worth $13 million for Airwallex, an Australia-based cross-border payments company.
Allegro acquires Australian resources sector contractor
Allegro Funds Group has acquired a controlling stake in Terrex Seismic, an Australia-based services provider for the oil and gas, minerals and government geoscience research industries.
Baidu Capital leads $156m round for China’s Huochebang
Baidu Capital, a VC firm backed by Chinese search engine Baidu, has led the $156 million second tranche of a Series B round for Huochebang, a Chinese B2B-focused online truck logistics platform.
Clairvest commits $74m to India game developer
Canadian private equity firm Clairvest Group has invested $73.7 million in Indian online game developer Head InfoTech.
Deal focus: Navis secures its golden egg
Navis Capital Partners has acquired Mainland Poultry with a view to meeting the New Zealand's egg producers domestic capital investment needs and taking its technology into other parts of Asia
Chinese universities and technology: Making a market
While US universities use licensing to commercialize technologies, their Chinese peers play a more active role in cultivating start-ups because the country has yet to develop a supporting ecosystem
Alternative exits: Tricks of the trade
Trade sales can provide investors in underperforming companies with an opportunity to reshape their investments, but they must be willing to let go of previous expectations and show flexibility
Temasek, Yunfeng lead $75m round for contract genomics player
Temasek Holdings and Chinese PE firm Yunfeng Capital have jointly led a $75 million Series B round for Wuxi NextCode, a genome sequencing analysis subsidiary of China-based contract research organization (CRO) WuXi PharmaTech.